Covia Investor Presentation

Improving Financial Flexibility ● ● Recent Actions $63 Million Face Value of Debt Retired Repurchased at 23% discount to par $4 million annual interest expense savings New $85 Million Revolver Commitment¹ 3-year facility without restrictive financial covenants Secured by accounts receivable LIBOR +175 bps, lower than previous facility CCOVIA All Railcar Purchase Obligations Terminated Canceled $195 million in obligations scheduled to mature in 2020 and 2021 Eliminates ~2,500 new cars entering fleet in coming years Modest cash consideration and lease modifications on small portion of fleet Additional Standby Liquidity Targeting additional $75 million in capacity Expected to close in 2020 1 - Commitment is up to $85 million 8

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